Welcome to our dedicated page for Lakeland Finl news (Ticker: LKFN), a resource for investors and traders seeking the latest updates and insights on Lakeland Finl stock.
Lakeland Financial Corporation (NASDAQ: LKFN) is the parent company of Lake City Bank, a commercial bank headquartered in Warsaw, Indiana and founded in 1872. This news page aggregates company-issued press releases and other coverage related to Lakeland Financial and Lake City Bank, giving investors and observers a single place to review the latest developments affecting the bank and its Indiana markets.
According to recent announcements, common themes in Lakeland Financial news include quarterly and year-to-date earnings results, capital and balance sheet trends, and board decisions on quarterly cash dividends. The company regularly reports on net income, net interest income, loan and deposit growth, capital ratios, and other performance indicators through earnings press releases that are also referenced in Form 8-K filings.
News items also highlight Lake City Bank’s community banking model and geographic expansion, such as new branch openings in Central and Northern Indiana, property acquisitions for future offices, and investments in its Downtown Warsaw headquarters campus and Innovation and Technology Center. Additional stories cover technology and digital initiatives, including partnerships that enhance the bank’s digital banking platform and financial wellness offerings.
Leadership and governance updates appear in the news flow as well, including recognition of executives on state leadership lists and appointments to industry association boards. Together, these articles provide ongoing insight into Lakeland Financial’s financial performance, dividend actions, market expansion, technology projects, and community engagement. Readers interested in LKFN can use this page to follow the company’s official announcements and related coverage over time.
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Lakeland Financial Corporation (Nasdaq/LKFN) reported a record net income of $24.3 million for Q1 2023, a 3% increase from $23.6 million in Q1 2022. Diluted EPS rose to $0.94, up 2% from $0.92. Despite this, net income fell 7% from Q4 2022’s $26.0 million. The company registered loan growth of $401.2 million (9%) over the year but reported a deposit contraction of $302.9 million (5%). Key metrics included a return on average equity of 16.81% and a net interest margin of 3.54%. Noninterest income decreased 3% due to lower mortgage banking activities. The board approved a dividend of $0.46 per share, reflecting a 15% increase from the prior year.
Lake City Bank, a subsidiary of Lakeland Financial Corporation (LKFN), has been recognized in the 2023 KBW Bank Honor Roll, marking its twelfth consecutive year of inclusion. Only 14 out of the 350 banks screened met the qualifications, indicating strong long-term performance. Banks must demonstrate consistent annual earnings per share growth over the past decade to qualify. David M. Findlay, CEO, emphasized the importance of this recognition, especially amid recent banking sector challenges, as a testament to the bank's commitment to shareholder value and disciplined strategies. Lake City Bank, with total assets of $6.4 billion and headquartered in Warsaw, Indiana, operates 53 branches across the state, highlighting its significant local presence.
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